Deere & Company (NYSE:DE) Receives $680.73 Consensus Target Price from Analysts

Deere & Company (NYSE:DE) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $680.7250.

A number of equities research analysts have weighed in on the stock. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday, August 14th. Oppenheimer boosted their target price on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. UBS Group decreased their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Finally, Citigroup lifted their price objective on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st.

Deere & Company Trading Down 1.8%

Shares of Deere & Company stock opened at $680.72 on Friday. The stock has a 50 day moving average of $621.37 and a 200 day moving average of $597.52. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm has a market capitalization of $183.54 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 2.86 and a beta of 0.90. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $705.88.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.75 EPS. As a group, research analysts predict that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. RFG Advisory LLC raised its position in shares of Deere & Company by 1.0% during the 2nd quarter. RFG Advisory LLC now owns 4,114 shares of the industrial products company’s stock worth $2,610,000 after acquiring an additional 42 shares in the last quarter. NewEdge Advisors LLC increased its stake in Deere & Company by 11.8% in the second quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock valued at $27,567,000 after purchasing an additional 4,586 shares during the last quarter. IFP Advisors Inc increased its stake in Deere & Company by 4.0% in the second quarter. IFP Advisors Inc now owns 9,046 shares of the industrial products company’s stock valued at $5,738,000 after purchasing an additional 351 shares during the last quarter. Arcus Capital Partners LLC acquired a new stake in Deere & Company during the second quarter worth approximately $202,000. Finally, One Charles Private Wealth Services LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $209,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.